More News, Rumors and Opinions Wednesday PM 8-28-2024
KTFA:
Clare: Including Iraq.. Three countries have the highest number of investment contracts signed during the month
8/28/2024
A report by the British magazine "MEED" stated on Wednesday that three countries, including Iraq, had the highest number of investment contracts signed in July.
The magazine stated in a report, which Shafak News Agency reviewed, that "the Middle East and North Africa region witnessed the signing of investment deals worth $23.9 billion in July."
The report explained that "Saudi Arabia ranked first among the Arab countries by signing investment contracts worth 14.3 billion, while the UAE came in second place by signing contracts worth 4.2 billion dollars, while Iraq came in third place by signing investment contracts worth 2.5 billion dollars."
He pointed out that "Egypt awarded contracts worth $2.1 billion, Kuwait $515 million, Oman signed contracts worth $140 million, Bahrain $33 million, and Qatar $27 million." LINK
Clare: Dollar prices continue to decline against the dinar in Baghdad markets
8/28/2024 Baghdad
The exchange rates of the US dollar fell this morning, Wednesday, in the markets of Baghdad and in Erbil, the capital of the Kurdistan Region.
The dollar prices witnessed a decline with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 148,850 Iraqi dinars for every 100 dollars, while yesterday, Tuesday, it recorded 149,000 dinars for every 100 dollars.
The selling prices in the exchange shops in the local markets in Baghdad recorded a decrease, as the selling price reached 149,750 dinars, while the purchase price reached 147,750 dinars for every 100 dollars. LINK
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Clare: Digital platform for financial efficiency books, financing plans and their controls
August 28, 2024
Based on the Central Bank of Iraq Law No. (56) of 2004, as the sectoral body supervising the work of all licensed financial institutions, and within the framework of this bank’s orientation towards automating the work of the banking sector, as well as supporting government efforts in implementing its contracts, a digital platform was created that includes establishing a new mechanism for issuing (financial efficiency books, and financing plan books) from all licensed banks, and their controls ..
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick [Iraqi bank friend Aki update] New York is to remove the red tape that the United Nations is still holding on the banks of Iraq that are not participating in the monetary reform. These sanctioned banks may stay sanctioned or be shut down completely. It really doesn't matter to the monetary reform process but this is something that is needed to be done.
Fnu Lnu With the RV drawing near, the crazies are coming out of the woodwork...First of all, The redemption centers ARE the same as the banks. They are merely off premises due to an expected increase in traffic. They are not separate entities. Secondly..."The Law of One Price"...states an instrument cannot be sold in different markets at different prices. In other words, the "redemption Centers" (banks) are NOT going to offer you an exchange rate three times what the "Banks" give you. IT IS ILLEGAL! The rate will be the rate no matter where you go. The only thing that may differ is the percentage of the fee. This fee is usually 2% but that isn't etched in stone.
CENTRAL BANKS ARE BETTING AGAINST THE SAME SYSTEM THEY FORCE US TO PARTICIPATE IN.
Greg Mannarino: 8-28-2024
Stock Market 2X OVERVALUED Than Before 2008 Crash | Michael Pento
Liberty and Finance: 8-28-2024
Overall market valuations have reached nearly 200% of GDP, a stark increase from just above 100% in 2007.
The home price-to-income ratio is at an all-time high, surpassing the peak of 2006, indicating severe housing affordability issues.
Portfolio manager Michael Pento highlights that inflation is disproportionately affecting the middle and lower classes, with disinflation rather than deflation trending.
The broader economic outlook remains uncertain, with concerns over concurrent asset bubbles in housing, stocks, and bonds.
INTERVIEW TIMELINE:
0:00 Intro
1:30 Inflation
6:55 Labor market
10:22 Trifecta of bubbles
14:50 Gold forecast
17:15 Silver update
18:35 Election
24:00 Economic outlook